Six months: Centre transfers Rs2,435.349bn to provinces

The federal government has transferred Rs2,435.349 billion to the provinces during the first six months of the current fiscal year under the National Finance Commission (NFC) Award from Rs4,469,241 billion tax collected by the Federal Board of Revenue (FBR).

The year-on-year analysis reveals, transfer to the provinces during the first six months of the ongoing fiscal year was 30 percent higher over Rs1,880 billion for the same period of last fiscal year.

Of the total FBR tax collection of Rs4,469 billion during the first six months of the ongoing fiscal year, Rs1,189.696 billion was transferred to the Punjab government during July-December 2023-24 as opposed to Rs936.162 billion for the same period a year before that is higher by 27 percent.